To open the accounts window, go to accounting menu and click chart of accounts.
Before you start creating accounting entries such as bank or cash journal, you should setup chart of accounts. You can modify the standard chart of accounts present in the software and also add your own ledger accounts as needed for your business.
Ledger Group: The software provides you with six ledger groups :- 1) Assets 2) Liability 3) Equity 4) Revenue 5) Cost of Sales 6) Expenses. For each ledger group, you can define your own sub groups and ledger accounts.
Ledger Sub Group: You can define sub groups in each ledger group. Once sub groups are defined, you can define ledger accounts for each sub group.
Ledger Account: Each ledger account has an account name, account code, and initial balance (debit or credit) to be defined. Once you setup the account, you can use it on journals and post entries to general ledger.